A company has the following results for the year to 31 March 2018: Trading profits, after capital
Question:
A company has the following results for the year to 31 March 2018:
Transcribed Image Text:
Trading profits, after capital allowances Bank deposit interest (account opened 1 April 2017): Received 30 June 2017 Received 31 December 2017 Accrued to 31 March 2018 Chargeable gain on sale of factory Dividends received from UK companies Deed of covenant payable annually to a charity: Paid 1 October 2017 for year to 30 September 2018 Less: Prepayment 9,000 4,500 The charitable covenant began on 1 October 2017 and falls within Compute the taxable total profits for the year. 1,561,400 1,820 3,670 1,980 531,000 132,000 4,500 Gift Aid s cheme.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
Based on the table we can calculate the taxable total profits for the year by summing the ...View the full answer
Answered By
Muhammad Rehan
Enjoy testing and can find bugs easily and help improve the product quality.
4.70+
10+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
You work for firm XYZ situated in the United States, and your boss has become concerned about the current economic environment, especially as it is related to the different types of exposures that...
-
A company has the following results for the year to 31 March 2018: The company intends to make Gift Aid donations of 30,000 every six months, starting on 30 November 2017. (a) Compute the company's...
-
You are presented with the following information for three quite separate and independent companies: Additional information: 1 The operating profit before interest and tax for the year to 31 March...
-
29. According to cognitive dissonance theory, why do people change their attitudes to match their behaviour? (1 Point) People guess their attitude from the O behaviour they see themselves performing...
-
Two stereoisomers of 1-bromo-4-methylcyclohexane are formed when trans-4-methylcyclohexanol reacts with hydrogen bromide. Write structural formulas or make molecular models of: (a)...
-
Lander Company manufactures a popular line of work clothes. Lander employs 125 workers and keeps time sheets that show how many hours the employees work each week. On Friday the shop foreman collects...
-
What is situational contingency leadership?
-
Refer to the information for Jasper Company above. Jasper Company provided the following information for last year: Sales in units ............... 300,000 Selling price ................ $9 Direct...
-
Set up the form for the partial fraction decomposition. Do not solve for A, B, C, and so on. 4x-14 (x-8)(3x+4) -0
-
A company makes the following acquisitions of ordinary shares in JKL plc: Date 1 July 1983 2 August 1984 3 February 1997 4 June 2003 No of shares 5,000 2,000 1,200 1,800 Cost 6,300 2,500 2,300 3,400...
-
During the year to 31 March 2018 , a company which qualifies as medium-sized spends 180,000 on research and development . This is qualifying expenditure under the R&D tax relief scheme. Explain the...
-
Indicate whether each of the following statements is true or false and explain why. A. Equilibrium in monopolistically competitive markets requires that firms be operating at the minimum point on the...
-
How do evolving technologies such as AI-driven natural language processing and sentiment analysis revolutionize the landscape of business communication, enabling more nuanced understanding and...
-
1. Enumerate the two (2) economic concepts of production theory that can be used by business owners to decide on key issues affecting their firms. Explain them briefly. 2. Discuss how are they...
-
A sales invoice included the following information: merchandise price, $8,000; terms 2/10, n/eom. Assuming that a credit for merchandise returned of $1,000 is granted prior to payment, and that the...
-
Trends by Tina sells high-end leather purses. The company has the following inventory transactions for the year. Date Transactions Units Unit Cost Total Cost January 1 Beginning inventory 18 $320...
-
Alvarado Company produced 4,600 units of product that required 2 standard direct labor hours per unit. The standard variable overhead cost per unit is $3.50 per direct labor hour. The actual variable...
-
Refer to the information provided for Peach Computer in E1111. In E1111, Portions of the financial statements for Peach Computer are provided below. Required: Prepare the operating activities section...
-
How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...
-
Rupert bought a house in Manchester on 1 November 1999 for 75,000. He occupied the house as his principal private residence until 1 November 2003 when he left to work abroad for a year, living in...
-
Melanie bought a house on 1 September 1990 for 31,000. The house was sold on 31 December 2021 for 173,000. Compute the chargeable gain arising in each of the following cases: (a) Melanie occupied the...
-
Mohammed owns two properties - a flat in Central London and a country cottage in Sussex. In general he lives in his London flat during the week and spends the weekends in his Sussex cottage. Which of...
-
Task 2: Response to Exposure Draft "Shaping the Future of Climate-related Accounting and Reporting in Australia" The Australian Accounting Standards Board (AASB) has released Exposure Draft ED SR1...
-
Discussion Topic: Audit Failures The purpose of the audit is to provide assurance as to the accuracy of financial statements. Situations such as the Enron collapse, which were largely due to the...
-
Gastow Pumps is a manufacturer of commercial and heavy industrial Pumps. The firm's two product lines are called Directlift and Gravity. The primary raw materials are flexible steel sheets, and 23cm...
Study smarter with the SolutionInn App